EgyptAir divides operations into six in effort to multiply earnings

Egyptian flag carrier EgyptAir has been restructured, with operations divided between six companies grouped under the newly formed EgyptAir Holding Company.

The six companies will be responsible for airline operations; ground services; operations and maintenance; air cargo; air services; and tourism and duty-free shops. The new holding company will be headed by Abdel Fattah Kato, who previously ran the holding company responsible for Egypt's airports and air traffic control.

The restructuring, announced by aviation minister Ahmed Shafiq, marks the end of a 21-year period in which the airline was headed by Mohamed Fahim Rayan, who was criticised for his perceived resistance to liberalisation of the aviation sector, and in particular his refusal to allow scheduled flights to serve airports near tourist resorts.